Milan, 27 March 2023 – The Group continues to register strong growth, as it prepares to close the annual financial statements at 31 March 2023 with consolidated revenues of over EUR 300 million, a double-digit increase compared to last year, confirming the brand’s robust growth trend.
The Group, an Italian leader in the luxury jewelry and watchmaking sector, once again recorded significant growth in the year 22/23 due to its strategy of investing in its brands. The said growth involved all the main geographical areas and channels, and retail distribution in particular.
Profitability was also very positive. This figure rose sharply compared to the previous year as a result of a significant growth in revenues and the increased weighting of directly managed Boutiques on total sales, resulting in higher average profit margins.
Among the significant investments this year, in line with the strategic plans for growth in the retail channel, in June 2022, the Municipality of Milan granted the Damiani Group a concession for the use of a shop at Piazza Duomo, 21 that will be used to create a new Salvini Boutique. In the fall, the Group was also granted an additional, very prestigious spot inside Galleria Vittorio Emanuele II, that opens directly onto this marvellous space. In the month of October, the first direct Damiani Boutique in Taiwan was inaugurated in the Regent Gallery of Taipei, accompanied by various openings in Korea – demonstrating the strong strategy of expansion and development of the Asian market. The high-end jewelry and watchmaking chain Rocca subsequently inaugurated a new and exclusive Boutique in the beautiful city of Naples. These are just some of the notable openings that took place in 2022, in anticipation of those already planned for 2023.
Over the course of the year, the Group also continued to invest significantly in human resources, taking on and including in its training courses as many as 250 new resources, around 70% of which are women.
With regard to the current trend and prospects for the coming months, the Group’s President, Guido Grassi Damiani, has stated that:
“The year 22/23 will come to a close soon with particularly positive results, confirming a strong appreciation for our products and brands. These results stem from the success of our strategies and, above all, from the commitment of our excellent employees, whom I would like to thank most sincerely.
Despite a general situation still conditioned by a certain amount of uncertainty, these results allow us to look to the future with optimism and to continue investing in strengthening the distribution chain and our production.”